Delhi-NCR has been a leader in driving the “Luxury Housing in India”. The demand for luxury housing in Delhi-NCR is fueled by the capital title the location holds and the proportion of HNIs and UHNIs being based out of here. Locations like Golf Course Road, Golf Course Extension, Dwarka Expressway, and Gurgaon dominate the scenario. The concept of independent houses, projects with minimal and limited units, and world-class recreational amenities clubbed with the gift of space makes the housing options a gold mine for investors and end-users. Additionally, the rise in prices and overall growth encourages the pattern for a longer run.

The overall infrastructure development is sustainable and comparatively stronger than other metro cities. The commercial emergence and development of IT/ITes parks help boost this growth further.

I.  Key highlights:

• ~5,400 high-end apartments sold in 1Q 2025.
• ~6,300 high-end apartments launched in Delhi NCR in the quarter.
• Overall capital values are up by 1.5% q-o-q.

II. Submarket delineation:

1. Gurgaon -

• Gurgaon comprises 85% of total sale units.
• The majority of the high-end housing units sold in Q1 2025 were under construction stage, implying buyers’ confidence in developers’ credentials and the changing market scenario.  The most preferred submarket is Dwarka Expressway, Gurgaon with half of the total sale units being located here.
• Dwarka Expressway dominated the high-end launches, comprising a dominant 64% share of total high-end launches in Q1 2050.
• Golf Course Road had a few launches but with a limited number of units. Other submarkets like New Gurgaon, Golf Course Extension Road, Sohna Road, and NH-8 had a few prominent developers indulging with supply.
• Most high-end launches during Q1 2025 were here in Gurgaon with nearly 40% of them being prices over INR 5 crore.
• Gurgaon also witnessed the highest quarterly price increase; capital value rise of 2%

2. Noida:

• Noida held 14% of the overall high-end sales as of Q1 2025; Greater Noida was the highest performing submarket based on the luxury home sales in Noida.  
• The capital value increase in Noida is 1% compared to the previous quarter.

There have been no significant price changes (quarterly) seen in Delhi and Faridabad, the rental for high end homes, however, was up by 0.7% as compared to the previous quarter. The influx of high-end housing projects by reputed developers is foreseeable here to stay, especially in Gurgaon and Noida owing to the fact that they have acquired strategic land parcels since last quarter. Delhi NCR is expected hold their leadership position in the high-end housing demand among all Indian cities. Capital values and rentals for high-end homes are likely to be progressive in a short and medium term.

*Data and excerpts taken from JLL research